Slovakia: Industrial production expands at a slower pace in October
December 10, 2013
Industrial output grew 6.8% over the same month last year in October, which was down from the 7.4% expansion tallied in September (previously reported: +7.6% year-on-year). According to the statistical office, the print reflected that the strong expansion in manufacturing more than offset decreases in electricity, gas and air conditioning supply as well as in mining and quarrying.
On a monthly basis, industrial production added 0.4% in seasonally-adjusted terms, which halved the 0.8% increase tallied in September (previously reported: +1.0%). The trend continues to point downward; annual average growth in industrial production deteriorated from 3.6% in September to 3.4% in October, the lowest level in more than three years.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.5% in 2013, which is up 0.3 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 4.9%, which is up 0.1 percentage points from last month's estimate.